The Ramada Queensbury/Lake George, a 110-room hotel at 1 Abbey Lane, Queensbury, has new owners.
According to the Muroff Daigle Hospitality Group, Ramji Patel and family sold the hotel to Paresh Patel, Darsham Patel, Minesh Hirpana and Akash Patel.
The transaction closed on Sept. 26 for a price of $3.2 million, said Mitchell B. Muroff, Esq., principal of the Muroff Daigle Hospitality Group.
Muroff Daigle Hospitality Group represented the seller, MPRV Enterprise LLC, in the transaction and was also responsible for securing the buyer, Velanja Hirpara LLC.
Muroff said the new owners are “experienced hoteliers with properties in other states and intend to be on-site managers to insure the quality of their guests’ experience.”
He said the owners plan to invest more than $500,000 into the hotel to improve its guest rooms and public area. Additionally, there are plans to re-open the restaurant and bar in the coming months.
The Ramada Queensbury /Lake George has banquet facilities, meeting and conference rooms and an indoor swimming pool. Its phone number is 518-793-7701.